AMSC ASA - Director's Dealing 2014

American Shipping Company ASA : Primary insider disclosure

Oslo, 20 May 2014 - Dag Fasmer Wittusen, the CEO of American Shipping Company

ASA ("AMSC" or the "Company"), has today acquired 100,000 shares in AMSC from

the Company through his wholly controlled Beddingen Finans AS. The price per

share was NOK 41.20, a total consideration of NOK 4,120,000, which constitutes

today's closing price, less a price reduction of 20% to compensate for the lock-

up restrictions on the shares for a period of three years.

The acquisition was carried out in accordance with the share purchase agreement

entered into between the Company and the CEO on 13 January 2014 as announced in

a stock exchange notice as of the date thereof.

Following the transaction, Beddingen Finans AS holds a total of 113,216 shares

in AMSC, constituting approximately 0.19% of the Company's shares and votes.

***

The information contained herein is subject to the disclosure requirements of

section 4-2 of the Norwegian Securities Trading Act.

[HUG#1787398]

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